TaxTMI 
TaxTMI 
Credit Ratings supported by Credit Enhancement (CE)
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....ne 13, 2019 had inter alia mandated various measures in reference to credit ratings of securities having explicit credit enhancement feature. In view of recent developments and deliberations with various stakeholders, to provide for enhanced transparency and improved rating process for CE-ratings, SEBI's measures for CE-ratings are being reviewed. II. Applicability: A. This circular shall be ap....
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....he 'CE' suffix. A list of such support considerations for CE-suffix is specified at Annexure A. IV. In order to strengthen the rating process as well as to promote transparency, the following measures are being mandated for credit ratings pertaining to Para II(A) above, wherein any of the support considerations specified at Annexure A ("specified support considerations") is considered in the rati....
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....rated that while assigning such credit ratings, CRAs shall conduct independent due diligence on the nature of specified support consideration and form a definitive internal view / opinion, and, wherever warranted, obtain an independent external legal opinion for ascertaining the strength of the credit enhancement. C. Furthermore, for such credit ratings, it is reiterated that CRAs shall verify t....
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....cular SEBI/ MIRSD/CRA/Cir-01/ 2010 dated January 06, 2010 issued thereunder. VI. This circular is issued with the approval of competent authority, in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 20 of SEBI (Credit Rating Agencies) Regulations, 1999, to protect the interest of investors in securities a....